The Oregon-based car retailer will purchase DCH Auto Group for $362.5 million.
The Oregon-based car retailer will purchase DCH Auto Group for $362.5 million.
In a move the car retailer says it has been planning for some time, Lithia will acquire 100 percent of DCH’s shares for $340 million in cash and $22.5 million in shares. In return, it will acquire all of DCH’s 27 dealerships in Southern California, New Jersey and New York.
“For the past several years, we have been seeking a strategic partner to help us to enter the Eastern United States,” said Lithia president and CEO Bryan DeBoer. “The DCH organization is an ideal fit with our existing team. We share similar strategic goals and core values, and have complementary strengths.”
Read more at Portland Business Journal
